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Financial Inclusion: A Correlational Study of Factors in Rural Uttarakhand

Vol 4, Issue 1, January - June 2017 | Pages: 122-143 | Case Study  

 
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https://doi.org/10.17492/mudra.v4i01.9776


Author Details ( * ) denotes Corresponding author

1. * Rajesh Tripathi, Assistant Professor, Deptt. of Strategic Management, University of Petroleum and Energy Studies, Dehradun, Uttarakhand, India (rajesh.tripathi@ddn.upes.ac.in)
2. Swati Gupta, Department of Accounting and Finance, University of Petroleum and Energy Studies, Dehradun, Uttarakhand, India (swati.gupta@ddn.upes.ac.in)

Inclusive development is the key to general economic growth for any economy. In any place in the world, providing financial services to this overlooked section of society is a testing assignment. The Government in India has concerns about large underprivileged population that is still reluctant to be a part of standard monetary exercises. A slew of innovation in financial services such as technology and a couple of development endeavors are being mooted and implemented. The paper is planned to dissect current status of financial services in rural regions of Uttarakhand and to recognise factors impacting interest of financial services in this area. The study suggests that though access to financial services in rural territorial areas is reasonable, there is still room for improvement in financial infrastructure. The findings confirm the relationship among ancillary, support systems, financial apparatus and intended financial inclusive measures. The exhaustive correlational study also establishes the fact that working on constructive elements and variables would bring positive results in the field of financial inclusion drive in rural and suburban areas of Uttarakhand.

Keywords

Financial inclusion; Indian economy; Digital finance; Financial services.

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